Al-Rafidain announces new rates for savings accounts and fixed deposits
Al-Rafidain announces new rates for savings accounts and fixed deposits
01/18/2021 14:20
[Baghdad-Where]
Al-Rafidain Bank announced, on Monday, that the interest rate for citizens’ saving accounts will be raised to 5%, and fixed deposits will be 7%.
The bank’s media office said in a statement, that “based on the bank’s policy aimed at maximizing revenues in order to attract cash and encourage customers to save their money instead of hoarding it in homes, the bank decided to increase the interest rate on savings accounts to 5 percent after it was 4 percent.” .
He added, “The bank also decided to increase the interest rate on deposits for a period of six months to become 5 percent and to increase the interest rate on fixed deposits for a year to 6 percent in addition to increasing the interest rate on deposits for a period of two years to become 7 percent.”
The statement indicated, “The bank has also decided to pay interest for fixed deposits to be granted in advance, provided that the citizen undertakes not to break and withdraw it, otherwise the interest granted will be deducted from the principal amount of the deposit, and this will be the basis for the comparison between the deposit and the savings account and the customer.” High in the coming days. ”
alliraqnews.com
